Answer Happy

The graph below shows domestic supply and demand for sneakers in the U.S. Suppose that at any price, foreign suppliers of sneakers will supply 15 million pairs. The "Domestic Supply + Imports" curve is misplaced. Re-position the curve to reflect the 15 million pairs of sneakers that will be imported by the U.S. Note that before trade occurs, the original equilibrium-the intersection of the Demand curve and the Domestic Supply curve-is at (40, $50). Provide your answer below: V Demand Price -100- 80 1 -60 Domestic Supply+Imports (50 $50) Domestic Supply (40,$50) 40 1 -20 0 20 RESET 1 V A 1 1 40 60 80 100 Quantity of sneakers (in millions)